“SMSF trustees might be ‘millionaires’ but they're not wealthy … it’s a bit of a tragedy, Bill Shorten’s been a bit of a goose on this,” Mr Henderson said.

“[The policy would] take away between $5,000 and $10,000 from a group that have already had their incomes cut. So they're going to be very angry and very frustrated and they're not going to be voting Labor at the next election.”